Term of the day: Peer-to-peer transactions on crypto exchanges
Some Indian exchanges are now offering P2P facility to KYC-verified customers
In peer-to-peer (P2P) crypto transactions, while the crypto exchange helps connect the buyer and the seller, the settlement is done directly between two individuals. This could be through online transfer of money, or through cash.
While some portals offered P2P transactions even earlier, there was high risk of fraud. Some Indian exchanges are now offering P2P facility to KYC-verified customers. Though risks remain, in case of a default, the exchange has the complete information about trading parties, including Aadhaar and PAN details.
Editor's Picks »
- Etihad will invest in debt-laden Jet Airways, but conditions apply: Reports
- Redmi Note 7’s flash sale will give us an idea of smartphone sales this year
- Indra Nooyi being considered to head World Bank
- SC agrees to hear challenge to Nageswara Rao’s appointment as interim CBI director
- Facebook advertising rules to become stricter for Lok Sabha election
- Why Tata Motors’ Project Charge at JLR is failing to recharge its shares
- Outlook on global profit growth worst since 2008 financial crisis
- Q3 results: ICICI Securities loses its retail broking crown
- High drug approvals to keep up pricing pressure for pharma firms
- Roads sector: Toll collections set to surge, but risks loom for developers